Compass Diversified announced the completion of the company’s previously announced acquisition of PrimaLoft Technologies Holdings, Inc., the parent company of PrimaLoft, Inc., from Victor Capital Partners and minority owners, pursuant to an agreement entered into on June 4, 2022.

The purchase price was $530 million, excluding working capital, other customary adjustments and acquisition-related costs. The acquisition was funded by a new $400 million five-year Term Loan A loan and amended its existing credit agreement to extend its $600 million Revolver through July 2027.

CODI’s initial equity ownership in PrimaLoft is approximately 91 percent, and PrimaLoft’s management team and existing shareholders invested alongside CODI and own the remaining 9 percent.

“We are excited to have completed our acquisition of PrimaLoft and look forward to partnering with their experienced leadership team to capitalize on the significant market opportunities ahead,” said Elias Sabo, CEO, Compass Diversified. “PrimaLoft has earned the trust of over 950 leading brands, and we’re pleased to support its next phase of growth.”

Mike Joyce, President and CEO, PrimaLoft, commented: “The closing of this transaction is an important milestone in PrimaLoft’s nearly 40-year history, and I’m excited to be partnering with the CODI team as we work to drive continued growth. CODI has the resources and partnership experience we need to advance our company to the next level, and we look forward to collaborating and growing together.”

Photo courtesy PrimaLoft